A judge issued an arrest warrant on Thursday for the auditor of Spanish wireless networks provider Let's Gowex which has filed for bankruptcy protection after its chairman admitted falsifying accounts.

Failed Bitcoin exchange MtGox, whose spectacular collapse hammered the digital currency's reputation, is to be liquidated after a Japanese court on Thursday ordered the start of bankruptcy proceedings, said ...

Failed Bitcoin exchange MtGox says it has found 200,000 coins worth $116 million in an old "digital wallet", after it collapsed in February admitting it had lost half a billion dollars in a possible theft.

Despite concerns about Detroit's bankruptcy, 56 percent of local government officials in Michigan said it was the right thing to do, according to a poll by the University of Michigan's Ford School of Public Policy.

Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).